Euro close to 8-month high

Pound Sterling

Yesterday’s BBA Loans for House Purchase report revealed an increase in the amount of people being granted home loan approval by lenders, slightly improving the outlook for the UK housing market. This result allowed the Pound to gain 0.4 per cent on the US Dollar. However, the British currency fell back against its American rival before the close of trade. The Pound was able to advance and hold gains against a broadly softening Japanese Yen.

The Pound is presently trading against the Euro in the region of 1.2208 and is trading against the US Dollar in the region of 1.6098

US Dollar

Resolution regarding the ‘fiscal cliff’ issue has been postponed once more, this time until a last-ditch gathering of US Lawmakers on December 30th. As a result the ‘Greenback’ posted notable losses against competitors like the Euro. If not avoided through budget negotiation the planned series of automatic tax increases and spending cuts could push the American economy into recession next year.

The US Dollar is presently trading against the Pound in the region of 0.6215 and is trading against the Euro in the region of 0.7572

Euro

The Euro was able to achieve close to an eight-month high against its US counterpart on the back of positive French consumer confidence and Italian business sentiment figures. Further movement in the common currency could occur today if there are any developments in the US regarding the fiscal cliff situation, or any further signs of economic improvement in the Eurozone.

The Euro is presently trading against the Pound in the region of 0.8192 and is trading against the US Dollar in the region of 1.3184

Australian Dollar

The Australian Dollar advanced close to a 20-month high against the Yen after less-than-impressive consumer price figures for Japan increased the likelihood of the Japanese central bank implementing fiscal stimulus. The ‘Aussie’ could continue to rise next week if Chinese manufacturing PMI figures reach economist’s expectations.

The Australian Dollar is presently trading against the Pound in the region of 0.6449, is trading against the Euro in the region of 0.7873 and is trading against the US Dollar in the region of 1.0376

New Zealand Dollar

The New Zealand Dollar rose in a similar manner to its neighbouring South Pacific currency yesterday due to developments in the nation’s major trading partners China and Japan. Against the Japanese Yen the ‘Kiwi’ hit a two-week high. However, if the US budget negotiations planned for this weekend fail to resolve the ‘fiscal cliff’ issue risk appetite could be dampened, causing the New Zealand Dollar to fall.

The New Zealand Dollar is presently trading against the Pound in the region of 0.5097, is trading against the Euro in the region of 0.6200 and is trading against the US Dollar in the region of 0.8219

Canadian Dollar

The ‘Loonie’ fell close to a one-month low against its American counterpart after US budget negotiations hit a brick wall. As the US is one of Canada’s main trading partners more negative developments regarding the ‘fiscal cliff’ issue could cause the Canadian Dollar to fall further.

The Canadian Dollar is presently trading against the Pound in the region of 0.6244, is trading against the Euro in the region of 0.7621 and is trading against the US Dollar in the region of 1.0048

After working in business development for a major UK currency brokers for several years, Richard left Britain to help set up the company’s Australian office and now lives and works in Queensland; making the most of his new Down-Under lifestyle.

Recent Blog Posts

Expats in Spain – Living a Rural Life

You’re sitting in the olive grove, just listening to the birds singing as the sun beats down on you...

The Expat Hub

About Us

If you’ve already moved abroad, if you’re in the process of moving abroad or if you’re only thinking about it, the Expat Hub is here for you. For expatriates looking for advice, support and information, we’re the number one online stop.

Our extensive expat country guides will provide you with all the essential information you’ll need on your new home, from the build up to the big move, to your arrival and beyond. We’ll explain the ins and outs of diverse topics – including Visa’s, Education, Moving and Money – and try to clear away confusion.